My nephew is buying a house that has just been built in Tooting with a home loan from Leeds Building Society. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We are purchasing a property and the solicitor has identified Chancel Repair to which the property may be liable given it’s proximity to the area of such a church. He has mentioned insurance. Is this strictly necessary for conveyancing in Tooting
Unless a prior purchase of the house took place after 12 October 2013 you could expect lawyers handling conveyancing in Tooting to remain encouraging a chancel search and or insurance against a claim.
I used Stirling Law a few years ago for my conveyancing in Tooting. Now, I need the files but the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Tooting of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what should have been a simple, chain free conveyancing. Tooting is the location of the property. Is there any guidance you can impart?
Flying freeholds in Tooting are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Tooting you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tooting may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
We expect to complete the sale of our £300,000 flat in Tooting on Monday in a week. The landlords agents has quoted £300 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Tooting?
Tooting conveyancing on leasehold apartments often requires the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to respond to such questions the majority will be content to do so. They are at liberty to invoice a reasonable charge for responding to enquiries or supplying documentation. There is no upper cap for such fees. The average costs for the information that you are referring to is over three hundred pounds, in some transactions it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in respect of administration charges, without which the charge is not strictly payable. In reality you have no option but to pay whatever is requested of you should you wish to complete the sale of your home.
I own a first floor flat in Tooting. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the amount payable for the purchase of the freehold?
Most certainly. We are happy to put you in touch with a Tooting conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Tooting premises is 14 Nutwell Street in January 2014. The premium payable for the acquisition of a new lease of the subject premises was in the sum of £30,523 This case affected 1 flat. The unexpired lease term was 62.94 years.
Why is it not possible to complete my conveyancing in Tooting on Good Friday?
This is due to the fact that on completion the funds needs to pass between the banks of the buyer and seller's solicitor and currently this can only happen on a working day. It is not possible to complete on a weekend either.